Top 10 Oldest Companies In Turkey

Ever wondering about Turkey’s business background? In this article, you will find some of the oldest companies in Turkey.

1. Turk Telecom
   It belongs to the telecommunications industry, and the state of Turkey owns it. It was founded in 1840 as Postahane-i Amire, and the current name was adopted in 1995. The headquarters are in Ankara. The net income in 2021 was 5,8 billion Turkish pounds. The company has more than 33,000 employees. Turk Telecom has 11 subsidiaries.

2. Tekel
   Unfortunately, one of the oldest companies in Turkey (which was founded in 1862) does not exist nowadays due to its initial formation. The company sold tobacco and alcoholic beverages. The building that hosted its premises in Ankara is a significant spot that the Yunus Emre Institute now occupies. British American Tobacco acquired the company in 2008. As a result, the trademark is no longer used in cigarettes and other products.

3. Ziraat Bank
   The story of this state-owned Turkish bank goes back to 1863. The headquarters are in Ankara, and nowadays, there are more than 1770 branches in different regions of the world. As of 2018, the bank’s net income was 7.961 billion Turkish pounds. Burhaneddin Tanyeri is the Chairman, and Alpaslan akar is the CEO.

4. Tulomsas
   The company started its operations in 1894 in Eskisehir, where it has its factory. Its activity lies in the rail transport industry and provides locomotive and wagon construction services. Its successor is Turasas. The company mainly provides locomotive services to the Turkish State Railways. The number of employees exceeds 1500, and the revenue reaches 150,000,000 Turkish pounds.

5. Turkish Central Bank
   Mustafa Kemal Atatürk established the Turkish Central Bank 99 years ago, in 1924. Mustafa Kemal Ataturk became Turkey’s first president soon after World War I. The bank, with headquarters in Istanbul, has almost 2,000 branches and more than 22,000 employees. The net income in 2021 reached 13.5 billion Turkish pounds. The products of the bank cover all the areas of finances, investments, and mortgage loans.

6. Turkish Airlines
   Turkish Airlines has a long history of 89 years of operation since it was founded in 1933. The fleet now numbers 396 airplanes and travels to 340 destinations worldwide. The headquarters of the company are in Istanbul. As of 2020, the company had more than 37,000 employees, and its net income in 2018 reached $753 million.

7. Vakko
   It is a clothing company that was founded in 1934 by Vitaki Hakko. The company has enjoyed 89 years of successful operation, selling fashion products, including clothes, accessories, and more. Nowadays, the company even has a home department. The company’s original name was Sen Sapka, but it was changed to Vakko in 1938. The company’s first store opened in Beyoglu.

8. STFA Group
   This company belongs to the construction and energy sectors. It was founded in 1938 by Sezai Türkeş and Feyzi Akkaya. The two guys met during their studies in Istanbul. They were both students of civil engineering at Istanbul Technical University. The name of the company came from the initial letters of their names. Annual revenue exceeds 700 million dollars.

9. Petrol Ofisi
   The company was founded in 1941 but, in 2017, was acquired by the Dutch Vitol Group. It is, without a doubt, one of the largest companies of its kind. In 2022, there were more than 1900 fuel spots in Turkey. Although the company began as a state-owned enterprise, it has since become private.

10. Pancar Motor
    The company can be proud of constructing the first diesel engine in Turkey. The company’s foundation dates back to 1956. The company is still in operation. It produces diesel engines and motor pumps.

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